Over $100,000 In WETH paid For Car-Racing Crypto Collectable.

Over $113,000 worth of the cryptocurrency Wrapped Ether has apparently been paid by an anonymous user named 09E282 for a blockchain token tied to a virtual Formula 1 race car. The transaction was shown by Etherscan to have taken place at 5:49 AM GMT on May 27. This is shortly after F1 offered the first crypto collectables and put the car up for auction.

The game for which the virtual car was bought is an “unreleased, officially-licensed Formula 1 game you have almost certainly never heard of,” according to GTPlanet. The car was the first product available for purchase in the game and this was via an outside auction. The virtual car is much buffed with properties that make it overpowered to the max. It may not be much of a surprise that one would purchase a virtual car especially video game lovers, but over $100,000 spent for a digital car is not something we come across every day.

The racing game is the recently launched F1 Delta Time and was made by the popular Animoca Brands. The company licenses popular characters and properties and builds mobile games around them. F1 Delta Time is a “blockchain-based” title that bears the official seal of approval from the company that controls the Formula 1 races. The imaginary racecar is spawned from a non-fungible token created on ethereum using the same ERC-721 standard (NFT).

According to GTPlanet:

Why would anyone spend that much money on a virtual car in an unreleased racing game that few people know anything about? While NFT-based cryptocurrency games like F1 Delta Time are interesting and exciting new ways to use blockchain, this investment is so outrageously bizarre that it seems almost suspicious. Was Animoca just using this auction to build publicity around its new game? Could some wealthy F1 fan with a penchant for cryptocurrency speculation really have spent $100,000 on the 1-1-1?’

In 2017, the rise of CryptoKitties, another game with crypto collectables had people paying as much as six figures for a virtual pet. When taking this into consideration, it may not be all that of a surprise that the car would sell for so much. It really could be a stunt for the game publicity, a genuine purchase by an anon with money to throw around or anything you would guess.

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Credits- John Biggs F1 Delta Time

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